Let's keep things simple. The 1W RSI rebounded on the Channel's bottom in June, a Channel that has flawlessly caught all cycle bottoms since 2011 and as a matter of fact the Highs as well.
The first two cycles peaked a little below the 1.5 Fibonacci extension from the previous High (bottom to top of Bull Cycle). The last one peaked on the 1.236 Fibonacci. If the narrative changes in order to fit the Parabolic Channel that Bitcoin has been trading in and which is getting narrower offering lower returns in each Cycle (diminishing returns paradigm), then a 1.236 Fib on the new cycle would be almost exactly at $150000.
It will be a rough ride and things surely look far from ideal now but pessimism and (extreme) fear were always (much) more stronger at bottoms. Buy don't look back and get ready for 150k in 2025.
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